Tag Archives: Wealth Tax
U.S. Senator Elizabeth Warren wants to become President. If elected, one of her plans is to implement a wealth tax. She said:
We need structural change to get our economy and our democracy back on track – and no billionaire is going to get in my way of fighting for it.[i]
While a wealth tax would bring in revenue, its most important effect might be fast-tracking a complete government takeover of the economy. Merely change some tax rates, some thresholds, and the government taxes everything into its own hands. Behold! The socialist dream of “the people” owning everything.